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What would my payments be?
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golden_girl
Posts: 103 Forumite
Hi
My fixed rate deal with Nationwide ends 31.01.09. I phoned them today and was told the following:
Balance on mortgage: £88235.00
Term left: 16 years 2 months
LTV-just below 75%
Interest onlt £41,800.
I told them when I remortgage I want to change the interest to £40k. and put the remaining on repayment.
They said the offers that they have at the moment is 5.98% with a £299.00 fee.
The mortgage is split as follows:
£40k interest only.
Is this a good rate??
They said I could call back beginning of November as it is too early to do it now. Or change it now but that my interest rate would change from 4.47% to 5.98%.
He said they couldn't guarantee what the interest rate would be in November.
I am not sure whether to go on SVR rate until next year and see what happens. But then I am not sure what our payments will be?
Is there a site I can go on to work out my monthly payments?
Any thoughts greatly appreciated
My fixed rate deal with Nationwide ends 31.01.09. I phoned them today and was told the following:
Balance on mortgage: £88235.00
Term left: 16 years 2 months
LTV-just below 75%
Interest onlt £41,800.
I told them when I remortgage I want to change the interest to £40k. and put the remaining on repayment.
They said the offers that they have at the moment is 5.98% with a £299.00 fee.
The mortgage is split as follows:
£40k interest only.
Is this a good rate??
They said I could call back beginning of November as it is too early to do it now. Or change it now but that my interest rate would change from 4.47% to 5.98%.
He said they couldn't guarantee what the interest rate would be in November.
I am not sure whether to go on SVR rate until next year and see what happens. But then I am not sure what our payments will be?
Is there a site I can go on to work out my monthly payments?
Any thoughts greatly appreciated
Lightbulb Moment - January 2008 
Loan £11,000 @ 7.050%/Virgin 0.00% -£2282.32/Egg 0.00% -£1992.59/M&S 3.9% -£1895.48/Barclaycard-£978.49
Joined Quidco 17.02.08;)
Overdraft paid off today 15.02.08:j
Loan £11,000 @ 7.050%/Virgin 0.00% -£2282.32/Egg 0.00% -£1992.59/M&S 3.9% -£1895.48/Barclaycard-£978.49
Joined Quidco 17.02.08;)
Overdraft paid off today 15.02.08:j
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I make it £590.54 if you add the £299 to the total loan amount (£390.87 for the repayment and £199.67 for the interest only.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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